Tuesday, November 15th, 2016

SPX breaks out above resistance

There are bad markets and people lose money and they swear they will never trade. Than when the market gets really really bad, a new trend develops and the new leaders take over. The winter passes and a new day begins. This is what is happening here. The slow down in the economy , high gas prices and European debt woes killed a bullish market and it corrected almost 10 percent and bottomed out with a inverted head and shoulders pattern. Today the SPX cleared the 50 day moving average decisively into the open range above. Take a listen:

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